Alternergy eyes start of commercial operation of 1st International project by Q2

MANILA, Philippines — Renewable energy firm Alternergy Holdings Corp. is targeting to have its first international energy project commercially operational by the second quarter of next year.

Alternergy said its $29 million solar photovoltaic (PV) and battery storage project in Palau, which is being undertaken by subsidiary Solar Pacific Energy Corp., was nearing completion.

“Our Palau solar PV + battery storage project is 65 percent complete. We expect to commence commercial operations by April 2023,” Alternergy and Solar Pacific chairman Vince Pérez said.

The hybrid project is the maiden foray of the Alternergy Group in the international energy market.

It has a capacity of 15.3-megawatt peak (MWp) solar PV and 12.9-megawatt-hour (MWh) battery energy storage system with technologies coming from top-tier global manufacturers.

Alternergy said a high delegation team from the governments of Palau and Australia visited the project site in Ngatpang last Dec. 15.

“Our Palau project builds a strong partnership with the governments of Palau through a long-term power supply agreement (PSA) with the Palau Public Utilities Corp. (PPUC) and with Australia through project financing under the Australian Infrastructure Financing Facility for the Pacific (AIFFP),” Solar Pacific CEO Mike Lichtenfeld said.

Solar Pacific subsidiary Solar Pacific Pristine Power Inc. and PPUC earlier signed a 20-year PSA and extendable for another five years.

Export Finance Australia, through the AIFFP, meanwhile, extended a total financing package of $22 million for the project.

The solar PV and battery storage project will provide up to 23,000 MWh of clean and renewable power to Palau, representing more than 20 percent of its annual energy demand, to help achieve its renewable energy target of 45 percent by 2025.

“Our Palau hybrid project is also one of the biggest direct foreign investments in Palau, with a project cost of $29 million and is generating local employment and tax revenues to the country,” Lichtenfeld said.

Alternergy aims to build 1,245 MW of renewable energy capacity in the next five years.